In September, co-CEO Glenn Youngkin will step down from private equity giant The Carlyle Group.  Kewsong Lee, Youngkin’s partner and co-CEO, will take the reins as sole Carlyle CEO.  

Co-founders of Carlyle, David Rubenstein and William Conway, appointed Youngkin and Lee as co-CEOs, which title Youngkin held since 2018 after being with the firm since 1995.  

Youngkin will now assist with the transition and outlook of the firm.  Consequently, he will stick around during the time between now and his retirement in September.  According to Youngkin, “It has been the professional journey of a lifetime and my honor to be part of building Carlyle into the global institution it is today, and to serve the last few years as co-CEO alongside an enormously talented partner like Kew.”

The Carlyle Group is a multinational private equity conglomerate that specializes in corporate private equity, private credit, and real assets.  The firm was founded in 1987 and is headquartered in Washington, DC.  Carlyle currently has over $200 billion in assets under management.